Davenport Hotel

Special Purpose for Sale
Catylist Listing ID: 29810819
Building Size (RSF): 6,500 SF
Gross Building Area: 6,836 SF
Gross Land Area: 2.64 SF
Sale Price: $425,000
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/15/2017

Overview / Comments

Historical Registry totally renovated. Two apartments on the second floor both one bedroom, large unit rents for $1,100 other is vacant could easily rent for $750. Downstairs has two units one recently rented for $1,800 and the other is used for storage. Updates include, 200 amp services, on demand (Bosch) water heaters, Four forced air gas furnaces, Fire alarm system installed (must pay monthly fee to connect to fire department, vinyl siding, roofing (asphalt shingle and rubber), windows, plumbing wiring etc. Many possibilities, single family home, bed and breakfast, additional apartment units, restaurant etc.

Lake Views and Lake front lot on Evans Lake the Heart of the Irish Hills, Near Michigan International Speedway.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $10,001 (Annual)
Assessed Value - Total($) $108,436 (Annual)
Potential Rental Income $50,000 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Adrian
County: Lenawee
Taxing Authority: Franklin Township
Tax ID/APN: FRO-106-3830-00 and FRO-106-3990-00
Market Type: Small
Property Located Between: Evans Trail and Lancaster Trail
Side of Street: North
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Breyman
Feet of Frontage: 350
Transportation: Other
Highway Access: US 127 ten minutes West
Airports: Detroit Metro One Hour East
Site Description: Frontage on US 12 with View of Evans Lake
Area Description: Irish Hills Resort area
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 6,500 SF
Property Condition: Excellent
Year Built: 1834
Year Renovated: 2008
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: New Vinyl Siding
Parking Type: Surface
Parking Description: Gravel parking easy to add more if needed
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Many updates
Zoning Description: Commercial zoning
Lot Frontage: 350
Lot Depth: 348
Easements: Other

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,202 10,481
Median Age: 47.49 44.82
Households: 1,720 4,101

Contact

Photograph of Listing Agent

Patrick J. Hoffman, CCIM

Howard Hanna CPIX Member
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